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Flat tax supporters often cite the nation of Estonia as proof of the system’s benefits. Pinned between Russia and the Baltic Sea, Estonia is a tiny country with under two million residents, roughly the size of Dallas, Texas. In 1994, just three years after separating itself from the Soviet Union, Estonian policymakers made the choice to …
Plus, with the right software, freelance bookkeepers can access their client’s data from any location, providing a faster and more efficient service. Freelance bookkeeping is a great career option for those with experience in accounting, finance, and bookkeeping. With the right qualifications and knowledge, a freelance bookkeeper can …
See the entries below on how to record the goods returned by customers into the inventories and how it is affected the cost of goods sold. Sales return isn’t exactly an expense or a loss to the company, however, it reduces current assets (in the case of credit sales), therefore, it indirectly acts as a […]
This can be a bit confusing if you’re not an accountant, but you can use this handy cheat sheet to easily remember how the sale journal entry accounts are affected. Sales are credit journal entries, but they have to be balanced by debit entries to other accounts. When you offer credit to customers, they receive […]
Sales invoices are the key to a company’s finances—a handy way to track what you’ve sold to customers, how much they owe, and when they need to render payment. Discuss payment methods early in the sales process to find one that works for both parties. Your accounting software should alert you when a payment deadline […]